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Jul 31, 2022
Braze Q2 2023 Earnings Report
Reported a strong quarter with 55% revenue growth and continued to provide best-in-class omni-channel customer engagement.
Key Takeaways
Braze's fiscal second quarter 2023 results showed strong revenue growth of 54.5% year-over-year, reaching $86.1 million. The company achieved a dollar-based net retention of 126% for the trailing 12 months. Despite macroeconomic headwinds, Braze remains confident in its business and customer engagement platform.
Revenue was $86.1 million, up 54.5% year-over-year.
Subscription revenue was $81.7 million, compared to $51.7 million in the second quarter of the previous fiscal year.
Dollar-based net retention for all customers was 126% for the trailing 12 months.
Total customers increased to 1,599 as of July 31, 2022, from 1,119 as of July 31, 2021.
Revenue by Segment
Forward Guidance
Braze is initiating guidance for the fiscal third quarter ending October 31, 2022 and updating guidance for the fiscal year ending January 31, 2023.
Positive Outlook
- Q3 Revenue guidance: $90.0 - 91.0 million
- FY 2023 Revenue guidance: $347.0 - 350.0 million
Challenges Ahead
- Q3 Non-GAAP operating loss guidance: $(23.0) - (24.0) million
- Q3 Non-GAAP net loss guidance: $(21.0) - (22.0) million
- Q3 Non-GAAP net loss per share guidance: $(0.22) - (0.23)
- FY 2023 Non-GAAP operating loss guidance: $(76.0) - (78.0) million
- FY 2023 Non-GAAP net loss guidance: $(74.0) - (76.0) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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